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Yes. NJ is not a "debtor friendly" state. The exemptions allowed are very limited. Joint accounts can be seized in their entirety. The nondebtor account holder will need to file a petition in the court for return of his/her funds. The amount would depend on how state statutes govern joint banking accounts.
You can always open up a bank account in NY and so long as the balance is below $1700 no judgment unless by the State/FEDs can touch it.
What else can I help you with?
Can a joint bank account in Florida be levied by New Jersey law if only one person is levied upon?
Not if it is a marital account held as Tenancy By The Entirety.
Can a joint bank account be levied in Pennsylvania?
Yes, in Pennsylvania, a joint back account can be levied. This is usually called a levying of bank accounts or garnishing wages.
Can a minor's bank acct be garnished?
No, a minors bank account can not be garnished, if they are the only person on the account. If this is a joint account and the non-minor is subject to a judgment then it can be levied or garnished.
Can a joint bank account held as tenancy by the entirety be levied in NJ?
Can a brokerage account that holds assets be registered Tenants in Entirety.
In New Jersey if your spouse's bank account was levied from a New York tax will it reflect on your credit?
Only if you are a party to the levy execution.
Can your bank account be levied in nc?
YES
Can a bank account be levied in new york?
Yes.
In Ohio does a spouse assume partners debt that was incurred before the marriage?
No. Although the spouse can be affected by the outstanding debt when applying for joint credit or if a joint bank account is levied by a judgment creditor.
Can only the government place a levy on a bank account?
No, but a bank account can only be levied by a court order.
How do you know if your bank account is levied?
Do you have any money left?
Can a New Jersey joint bank account be levied against by a judgment creditor when only one account holder is the debtor?
Yes, joint accounts are subject to judgment levy. The non-debtor account holder must present documentation to the court as to the percentage of funds that belong to them to avoid having their monies seized by the judgment creditor. Generally, the court will freeze the account until a decision is made concerning which monies are subject to levy.
In Maryland can a joint bank account be levied when only one person is the judgment debtor?
Yes. A judgment creditor can levy a joint account and request the bank freeze account funds until a decision is made on the percentage of ownership each account holder is entitled to. Joint marital accounts are sometimes viewed differently if they are allowed to be held as Tenancy By The Entirety and the original account application/signature card specifically states those terms.
